Read and understand what Biden administration did to cause inflation

[HJCane]

The worst spending bill ever: Democrats’ $1.9T ‘rescue’ is drowning us

More expensive than last year’s CARES Act, the 2009 stimulus, ObamaCare, or any enacted spending bill of the Ford, Carter, Reagan, Bush I, Clinton, or Bush II eras.

nypost.com

 

[Joer]

I am very interested in politics, but cable news is toxic. However, if one watched the business channels, They will get a much better understanding of subjects like inflation, soaring fuel prices, and supply chain issues. While CNBC, and Bloomberg, skew a bit left, and Fox Business skews a bit right, they still have non-partisan business analysts who explain these issues very clearly.

The fact is, the Biden administration has made a series of mistakes so bad, that many economists who worked for Bill Clinton and Barack Obama are continually excoriating the decisions made by this administration.

 

[HJCane]

I am very interested in politics, but cable news is toxic. However, if one watched the business channels, They will get a much better understanding of subjects like inflation, soaring fuel prices, and supply chain issues. While CNBC, and Bloomberg, skew a bit left, and Fox News skews a bit right, they still have non-partisan business analysts who explain these issues very clearly.

The fact is, the Biden administration has made a series of mistakes so bad, that many economists who worked for Bill Clinton and Barack Obama are continually excoriating the decisions made by this administration.

Exactly. To pump that much money into a system all at once, they were warned. Read the attached article.

 

[quincycane]

This was the master plan for progressives all along. Inflation is the most effective (for progressive purposes) regressive tax. The convenience of the Russian invasion only helps that cause. As Rahm Emanuel said, "You never let a serious crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before."

 

[Tiv]

The worst spending bill ever: Democrats’ $1.9T ‘rescue’ is drowning us

More expensive than last year’s CARES Act, the 2009 stimulus, ObamaCare, or any enacted spending bill of the Ford, Carter, Reagan, Bush I, Clinton, or Bush II eras.

nypost.com

The Dems just looove to spend our money. This has led to massive inflation along with the very high gas prices, which leads to high prices on just about everything else.

Now Biden is blaming the inflation on Putin. What a sorry excuse. The truth is that inflation was at a 40 year high long before Putin invaded Ukraine.

 

[NO.SHORECANE]

Just read what Robert Rubin, Larry Summers, and Steve Rattner have said- all liberal Democrats.

 

[dolcane]

Plenty of blame to go around over a long period of time. Starting with the GW Bush administration, the US has grown the national debt from $6T to $30T.

Over that same period of time, they have increased the money supply by a massive amount. All that new money was chasing too few assets causing huge bubbles in prices.

The Romans used to recall their coins and dilute them with junk metal. Merchants knew that a coin was now devalued so they raised prices to compensate. Inflation.

In modern times, they no longer have to recall coins. They simply “sell” new debt from nothing and push it into the money supply. This newly created money has been used to buy assets like equities and real estate. New slant on an old trick. Which by the way never ends well.

The increased money supply is inflationary. All the politicians know this, however, whenever it blows up, as they know it will, they simply find someone other than themselves to blame it on.

 

[Joer]

Plenty of blame to go around over a long period of time. Starting with the GW Bush administration, the US has grown the national debt from $6T to $30T.

Over that same period of time, they have increased the money supply by a massive amount. All that new money was chasing too few assets causing huge bubbles in prices.

The Romans used to recall their coins and dilute them with junk metal. Merchants knew that a coin was now devalued so they raised prices to compensate. Inflation.

In modern times, they no longer have to recall coins. They simply “sell” new debt from nothing and push it into the money supply. This newly created money has been used to buy assets like equities and real estate. New slant on an old trick. Which by the way never ends well.

The increased money supply is inflationary. All the politicians know this, however, whenever it blows up, as they know it will, they simply find someone other than themselves to blame it on.

You are right as far as there is plenty of blame to go around. As far as I'm concerned, there's not much difference between Chuck Schumer, Harry Reid, and Mitch McConnell. They're all swamp creatures. They are all insulated from repercussions of things they do.

Like Thomas Sowell says: "never take advice from someone who will not pay a price for being wrong."

 

[Tiv]

You are right as far as there is plenty of blame to go around. As far as I'm concerned, there's not much difference between Chuck Schumer, Harry Reid, and Mitch McConnell. They're all swamp creatures. They are all insulated from repercussions of things they do.

Like Thomas Sowell says: "never take advice from someone who will not pay a price for being wrong."

Agree Joer. Schumer and McConnell have been in Washington way too long (same as Reid) and it's time for them to go.

 

[dolcane]

You are right as far as there is plenty of blame to go around. As far as I'm concerned, there's not much difference between Chuck Schumer, Harry Reid, and Mitch McConnell. They're all swamp creatures. They are all insulated from repercussions of things they do.

Like Thomas Sowell says: "never take advice from someone who will not pay a price for being wrong."

Thomas Sowell is brilliant.

 

[KOWBOY88]

^^^^^^^^^^^^^^^^^^^^^^^^^

 

[HJCane]

Plenty of blame to go around over a long period of time. Starting with the GW Bush administration, the US has grown the national debt from $6T to $30T.

Over that same period of time, they have increased the money supply by a massive amount. All that new money was chasing too few assets causing huge bubbles in prices.

The Romans used to recall their coins and dilute them with junk metal. Merchants knew that a coin was now devalued so they raised prices to compensate. Inflation.

In modern times, they no longer have to recall coins. They simply “sell” new debt from nothing and push it into the money supply. This newly created money has been used to buy assets like equities and real estate. New slant on an old trick. Which by the way never ends well.

The increased money supply is inflationary. All the politicians know this, however, whenever it blows up, as they know it will, they simply find someone other than themselves to blame it on.

Bush had to deal with 9/11 and war. Every President is dealt a hand of cards and Bush got a lousy hand 6 months in.

 

[miamimike]

Bush had to deal with 9/11 and war. Every President is dealt a hand of cards and Bush got a lousy hand 6 months in.

Bush did what no president in history had ever done-cut taxes in wartime. In every major conflict the U.S. has fought since the Civil War, Washington has raised taxes to pay for the war. Bush dealt his own hand which led to economic indicators not seen since the Great Depression. Lied to the American people and invaded Iraq after being told by the CIA that Iraq no longer had WMD.s.

 

[grbcane]

Agree Joer. Schumer and McConnell have been in Washington way too long (same as Reid) and it's time for them to go.

Harry Reid is dead, he’s no longer in the Senate he’s been out since 2017.

 

[Tiv]

Harry Reid is dead, he’s no longer in the Senate he’s been out since 2017.

No kidding....but he was in Congress way too long. Just like many swamp creatures.

 

[dolcane]

Bush had to deal with 9/11 and war. Every President is dealt a hand of cards and Bush got a lousy hand 6 months in.

National debt nearly doubled during his Presidency. He also gave us the freedom stealing Dept of Homeland Security.

He got a bad hand with 9/11, but overall, I’m no fan.

 

[HJCane]

National debt nearly doubled during his Presidency. He also gave us the freedom stealing Dept of Homeland Security.

He got a bad hand with 9/11, but overall, I’m no fan.

Thats fine but we did go to war and that war cost big bucks.

 

[dolcane]

Thats fine but we did go to war and that war cost big bucks.

Yes. He chose that war based upon a weapons of mass destruction narrative that was never verified.

 

[HJCane]

Yes. He chose that war based upon a weapons of mass destruction narrative that was never verified.

We aren't revisting Iraq we have other issues currently

 

[miamimike]

We aren't revisting Iraq we have other issues currently

Then why did you bring up Bush and his "lousy hand"?

 

[grbcane]

 

[HJCane]

Then why did you bring up Bush and his "lousy hand"?

As it pertains to spending which was the topic. National debt increase.

 

[remma]

Inflation is because of Trumps failed Presidency.............................Trump is a POS

Sorry, I felt the thread needed a left leaning comment

 

[Tiv]

Inflation is because of Trumps failed Presidency.............................Trump is a POS

Sorry, I felt the thread needed a left leaning comment